Many people have been mis-sold pensions or persuaded to invest in failed pension schemes.
Mis-sold pensions & investments
Unfortunately, many people find that they have been affected by this. A mis-sold a pension is where you have been or persuaded into investing in a pension scheme without the full information or through misleading advice.
The FCA’s (Financial Conduct Authority) supervision work shows that 69% of consumers are advised to transfer despite their view that most customers would be best advised not to. They estimate that the harm created by unsuitable transfer advice is up to £2bn each year.
Do you think you’ve been mis-sold?
If you have invested your pension pot in a SIPP scheme and you’re now suffering as a result, or even if you haven’t yet lost money but suspect something isn’t quite right, check your situation against the following criteria to see if you’ve been mis-sold:
Were you pressured into investing your pension into something you didn’t want or need?
Were you advised to transfer your existing private pension fund to a new, higher return scheme even though it wasn’t suitable for your needs?
Were there any surprise fees or additional costs attached to the investment that you weren’t made aware of from the start?
Were there certain risks attached to your SIPP that you were not informed of when you agreed to invest?
Have you made significant losses as a result of any of the above issues?
If you suspect you may have been mis-sold your pension through a SIPP, SSAS, QROPs or final salary pension transfer, New South Law can help look to recover the funds you’ve lost.
Although every case is different, often you will be able to make a complaint to your financial adviser or pension company. Failing that, the Financial Ombudsman Service or the FSCS should be able to help and our experts can assist you if you do not feel comfortable making a complaint yourself.
If you would like New South Law to represent you, just get in touch. It all starts with a free initial assessment where we will discuss your claim and circumstances to understand whether you have a claim to be made. If you choose to continue your claim with us, you will receive a dedicated Case Handler who will keep you updated every step of the way.
Types Of Mis-Sold Pension Claim
If you bought or transferred one of the following types of pensions, and feel you weren’t given all the information you needed to make an informed decision, we’d like to hear from you:
You transferred a Final Salary pension (also known as a defined pension)
You transferred to a SIPP, SSAS or QROP pension
You bought a standard annuity
In many cases we are able to act on a contingent basis, meaning you will only be charged if we are successful with no fees up front.
If there is a matter you would like to discuss with us, fill out the form below and one of our team will be in touch.